(7/20, Tue) btc fell -3.0% and need to go up above 50MA of the week chart soon

Yesterday(7/19 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $31768, its lowest as $30404, its highest as $31889, its closing as $30805. Bitcoin went sideways after the start of Monday and seemed to break through the weekly starting price at 05:45, but immediately fell after reaching a high, breaking below $31,000 at 12:30 with a large sell volume and breaking below the $31,000 low at 14:15. It rebounded and attempted to break through the $31,000, but failed and ended -3.0% decline.

On the weekly chart, I saw it as important that Bitcoin, which closed below the 50MA last week, rose above the 50MA again yesterday at the start of the week, but failing to do so makes me wonder if the next expected price is 100MA, which is $25,000.

If the cryptocurrency market was an uptrend that moved independently of the stock market move, yesterday's big drop in the stock market wouldn't have any effect, but now that's not the case. The preference for safe assets showed that the US dollar and bonds were strong, and it seems that it was difficult for the cryptocurrency market to rise.

In addition, 40000 btc, which is unlocked in July on Grayscale, leads to selling pressure, and also is a risk factor that can bring down the sideways market of more than a month in recent days. If a large amount of btc comes to the market and there is no buyer, the market will inevitably flow down, and we may face a bigger decline than we think. What the market needs most right now is probably a large buyer who will take a large sell volume.